AbbVie to Acquire Allergan
AbbVie Inc. and Allergan plc have announced that the companies have entered into a definitive transaction agreement under which AbbVie will acquire Allergan in a cash and stock transaction for a transaction equity value of approximately $63 billion, based on the closing price of AbbVie's common stock of $78.45 on June 24.
Upon completion of the transaction, AbbVie will continue to be incorporated in Delaware as AbbVie Inc. and have its principal executive offices in North Chicago, Ill. AbbVie will continue to be led by Richard A. Gonzalez as chairman and CEO. Under the terms of the deal, Allergan shareholders will receive 0.8660 AbbVie Shares and $120.30 in cash for each Allergan Share that they hold, for a total consideration of $188.24 per Allergan Share. The transaction represents a 45% premium to the closing price of Allergan's Shares on June 24.
“With 2019 annual combined revenue of approximately $48 billion, scale in more than 175 countries, an industry-leading R&D pipeline and robust cash flows, our combined company will have the opportunity to make even bigger contributions to global health than either can alone," said Brent Saunders, chairman and CEO, Allergan. "Our fast-growing therapeutic areas, including our world class medical aesthetics, eye care, CNS and gastrointestinal businesses, will enhance AbbVie's strong growth platform and create substantial value for shareholders of both companies."
The combined company will consist of several franchises with focus across immunology, hematologic oncology, medical aesthetics, neuroscience, women's health, eye care, and virology. Allergan's product portfolio will be enhanced by AbbVie's commercial strength, expertise, and international infrastructure.
For more information about go to www.abbvie.com
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